While bitcoin has shown greater volatility and lower liquidity compared to gold, the $275bn market value of bitcoin is dwarfed by gold’s $8.3 trillion.
Base metals were hot this year with zinc, copper and aluminum among leaders, climbing between 15% and 23%. What about 2018? Analysts say China will know.
Gold Fields Ltd.’s unit in Ghana said it will dismiss 1,500 of its own staff as the company is hiring a contractor to operate its biggest mine in the nation.
Chilean mines will negotiate contracts with 32 unions next year, representing about three-quarters of the country’s copper output, or about one-fifth of world production.
In face of rapidly changing world, gold investors appear to be focusing more on strength of the global economy and are becoming less sensitive to turmoil.
“The bitcoin’s super-high volatility is not for everyone’s taste,” said Randy Frederick, vice president of trading and derivatives with Charles Schwab & Co.
There were 81 fatalities from January through November, according to data from the Chamber of Mines. Thursday, a death at Tshepong Mine brought total to 82.
U.S. Steel Corp. led gains among major American producers of the metal after the U.S. slapped duties on some Vietnamese alloys made with China imports.
